$200 Million Raised for Gigabit-Per-Second Broadband Initiative

A startup in Ohio called Gigabit Squared has raised roughly $200 million to fund a gigabit-per-second broadband initiative involving six universities across the U.S.

Gigabit Squared has called upon the the University Community Next Generation Innovation Project (Gig.U), which consists of 30 universities, to tap the 6 communities to develop the ultra-fast broadband networks. Blair Levin, executive director of Gig.U, commenting on the ample funding, “yes, America needs an upgrade, and that, yes, there are investors and innovators willing to step up to get it done.” The project will be known as The Gigabit Neighborhood Gateway Program, and will be the first multi-community broadband gigabit deployment in the U.S.

Each Gigabit Neighborhood Gateway Program project will consist of:

– The use of underutilized network assets and capacity and local investment to drive services and unlock long-term value and sustainability,
– A framework to create new capacity and spur development, including community service applications that promote better health, education and community services,
– Previously unavailable speed and bandwidth,
– Digital economic development strategies to aggregate revenues and lower the overall costs of scaling gigabit-broadband, and
– A future-state network that will serve as a platform for innovation, next generation application development, workforce development and job creation.

Mark Ansboury, president of Gigabit Squared, states, “The Stimulus Funding was a great jumpstart to get broadband initiatives on track in the U.S. But it is just a starting point – In order to realize true economic revitalization, we’re urging our national and community leaders to think and act in more creative ways. And we’re backing those efforts with significant investment of our.”